Shares of ReSourcePhoenix.com (Nasdaq: RPCX), a provider of outsourced financial and business information solutions, rocketed more than 33 percent on Wednesday, gaining 2-5/16 to 9-5/16 one day after the company announced a strategic alliance with Broadvision. ReSourcePhoenix.com will integrate Broadvision’s products with its customers’ existing back-office operations.
On Wednesday, ReSourcePhoenix.com was upgraded to strong buy from buy by Thomas Weisel Partners. Earlier this month, Robertson Stephens reiterated its buy rating and 12-month price target of $18 on ReSourcePhoenix.com.
“Shares of ReSourcePhoenix.com are trading at just 2.6 times our 2000 revenue estimate of $24.9 million, representing an 80 percent discount to comparable companies and belies the aforementioned visibility of the company’s revenue stream in our view,” Robertson Stephens analyst Andrew Jeffrey said.
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